Spain is one of the most popular destinations in the world for those looking to relocate and retire abroad. However, its immigration policy is very complex with many different visa programmes. One of the most requested and easiest to obtain is the non lucrative visa, which grants the holder the right to live in Spain, but not work. In this article, you will find out everything you need to know about this residence permit, who can apply for it and the legal process step by step.
The spain non lucrative visa is one of the most popular among those who want to reside in Spain and is commonly referred to as the golden visa. The main difference between it and the other residence visas is that this programme does not require the investor to invest a minimum of EUR500,000 in the country, but instead, the holder must have a certain amount of money in their bank account or have monthly passive income from a source such as renting a property to third parties. The exact requirements vary according to the consulate, but as of 2023 the requirement is a minimum of EUR30,000 in your bank account or, if you wish to rent out your property to third parties, a minimum monthly income of EUR7,200 per person, plus an additional EUR10,000 for spouses and dependent family members.
If you are considering applying for this type of visa, it is best to start the process from your home country or a Spanish consulate outside the country. This is because you will need to provide all of the required documentation, and submitting it from inside Spain can result in your request being denied. In addition, you should begin compiling the documents as soon as you schedule your appointment, and ensure each one adheres to the requirements established by the Spanish authorities.
Once you obtain a spain non lucrative visa, it will allow you to reside in any of the countries that are part of the Schengen zone. This will make it much easier to travel around Europe than if you were simply a tourist, who is limited to 90 days in each 180-day period. The visa will also let you bring your family with you, provided you can prove that you have the financial means to support them.
In addition, you will need to obtain private medical insurance before the process starts. Although moves are being made to allow holders of this type of visa to access public healthcare in Spain, it is a good idea to have a private health insurance to protect yourself against any unexpected expenses or emergencies that may arise during the process. The process can take up to a year, but it is worth the investment, as it will make your life in Spain much more comfortable and enjoyable in the long run. For more information and assistance in obtaining your visa, get in touch with us at BCN Life. Our team of immigration experts can help you every step of the way.